New Books in Economics

The global financial crisis of the late 2000s was marked by the failure of regulators to rein in risk-taking by banks. And yet regulatory issues varied from country to country, with some national financial regulatory systems proving more effective than others. In Visions of Financial Order: National Institutions and the Development of Banking Regulation (Princeton University Press, 2024), Dr. Kim Pernell traces the emergence of important national differences in financial regulation in the decades leading up to the crisis. To do so, she examines the cases of the United States, Canada, and Spain—three countries that subscribed to the same transnational regulatory framework (the Basel Capital Accord) but developed different regulatory policies in areas that would directly affect bank performance during the financial crisis.In a broad historical analysis that extends from the rise of the first modern chartered banks in the 1780s through the major financial crises of the twentieth century and the Basel Capital Accord of 1988, Dr. Pernell shows how the different (and sometimes competing) principles of order embedded in each country’s regulatory and political institutions gave rise to distinctive visions of order and prosperity, which shaped subsequent financial regulatory design. Dr. Pernell argues that the different worldviews of national banking regulators reflected cultural beliefs about the ideal way to organize economic life to promote order, stability, and prosperity. Visions of Financial Order offers an innovative perspective on the persistent differences between regulatory institutions and the ways they shaped the unfolding of the 2008 global financial crisis.This interview was conducted by Dr. Miranda Melcher whose new book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Richard Vague, a financial expert and former Secretary of Banking and Securities for Pennsylvania, dives into the complexities of debt in his latest work. He highlights the paradox where private debt drives economic growth yet contributes to crises. Vague compares U.S. and Chinese debt management strategies, discusses the impact of aging populations, and proposes innovative solutions like debt jubilees. He also emphasizes the historical role of tariffs in supporting American manufacturing and explores new policies for revitalizing the economy.

For generations most of the canonical works that detail the lives of poor people have been created by rich or middle-class writers like Charles Dickens, John Steinbeck, or James Agee. This has resulted in overwhelming depictions of poor people as living abject, violent lives in filthy and degrading conditions. In Poor Things: How Those with Money Depict Those Without It (Duke UP, 2024), Lennard J. Davis labels this genre ‘poornography”: distorted narratives of poverty written by and for the middle and upper classes. Davis shows how poornography creates harmful and dangerous stereotypes that build barriers to social justice and change. To remedy this, Davis argues, poor people should write realistic depictions of themselves, but because of representational inequality they cannot. Given the obstacles to the poor accessing the means of publication, Davis suggests that the work should, at least for now, be done by “transclass” writers who were once poor and who can accurately represent poverty without relying on stereotypes and clichés. Only then can the lived experience of poverty be more fully realized.The Endo/Exo Writers Project.Nathan Smith is a PhD candidate in Music Theory at Yale Universitynathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Philip Rathgeb, an Associate Professor in Social Policy at the University of Edinburgh, delves into the radical right's influence on capitalism and welfare systems. He explains how these parties, now central to political discourse, utilize nativism and authoritarianism to reshape socio-economic policies. Rathgeb highlights the rise of economic nationalism and the adverse effects of selective status protection on marginalized groups. He also discusses the complex interplay between labor dynamics and gender disparities under radical right agendas across Europe and the USA.

Alan Bollard, a Professor of Economics at Victoria University of Wellington, delves into how a few economists shaped the intellectual battleground of the Cold War. He highlights the clash of economic ideologies, from the rise of central planning to market allocation. Bollard discusses pivotal figures like Harry Dexter White and their impact on post-war institutions such as the IMF and World Bank. The podcast also explores revolutionary ideas from economist Joanne Robinson and the ambitious economic policies of Salvador Allende in Chile, reflecting on the enduring challenges capitalism faces today.

Rumu Sarkar, an adjunct law professor at Case Western Reserve University, delves into international development law with a focus on global poverty. She discusses the vital interplay between rule of law, human rights, and global finance, bringing to light the challenges nations face in attracting investments. Sarkar also examines the complex dynamics of multinational corporations and societal roles in development, and critiques the 'right to development'—highlighting its complications in international lending and debt crises, particularly in Africa.

Chiara Arnavas, a Doctoral Research Fellow at the University of Oslo, delves into the complex world of India's land mafia, especially in West Bengal. She discusses how the land mafia has emerged as a powerful player in the land market, manipulating transactions for mega-profits. Arnavas highlights the social inequalities exacerbated by these operations, revealing a disturbing nexus between land mafia and state power. Topics include environmental inequality and the marginalization of Muslim communities, showcasing the intricate dynamics of class, caste, and religion in this grim landscape.

Duncan Mavin, a seasoned financial reporter and author of "Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse," dives deep into the rise and fall of the iconic bank. He reveals how a toxic corporate culture fueled scandals and greed, ultimately leading to its collapse in 2023. Mavin discusses the tangled history of Swiss banking secrecy and the impact of leadership failures on trust. He also raises vital questions about the future of big banks amidst demands for transparency and accountability in the finance world.

Austin Dean, Assistant Professor of History at the University of Nevada, Las Vegas, delves into China's unique monetary history from 1873 to 1937. He discusses the complexities of China's transition from silver to the gold standard and the political and economic challenges involved. The conversation touches on the Boxer Indemnity's influence on currency reform and the impact of U.S. foreign policy on China's economic stability. Dean highlights the pivotal moment in 1935 when China shifted from the silver standard, reshaping global economics and revealing the interplay of local governance and international interests.

Swethaa Ballakrishnen, a sociolegal scholar and assistant professor at UC Irvine, discusses her book on gender dynamics in India’s elite law firms. She reveals how structural factors create unexpected gender parity in a male-dominated industry. The conversation explores the complex interplay of socio-economic backgrounds, family dynamics, and changing perceptions of work. Ballakrishnen challenges notions of intentionality in feminism, questioning whether unintentional progress can still be deemed feminist. Intriguing insights abound on navigating gender in India’s professional landscapes.